car loans
get the wheels in motion
our philosophy:
At the heart of
bankmecu is a belief
that a clear connection
exists between strong
communities, a healthy
environment and a
more responsible
approach to banking.
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why bank
with bankmecu?
bankmecu is a new kind of bank
in Australia – a customer owned
bank. This means we put our
customers first because they
also own the bank.
We pride ourselves on personal service. We also
return benefits to our customers in the form of
better interest rates and lower fees. In 2010 our
customers were collectively $31 million better off
than they would have been if they banked with
Australia’s big banks.
We also offer our customers a more responsible
approach to banking.
People want to bank with someone they can
trust with their money and trust to act ethically.
We design banking products and services that
support our customers to achieve their financial
goals while also helping them take steps to live
more sustainably. We also invest our customers’
money in responsible ways that generate benefits
for them as well as create stronger communities
and a healthier environment.
In 2010 Ethical Investor recognised us as Australia’s
most sustainable small company of the year.
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make a smart move ®
When we created the goGreen® Car Loan we
pioneered a different approach to motor vehicle
finance. Interest rates on goGreen® Car Loans
are determined according to how ‘green’* or
safe your vehicle is. The lower the greenhouse
emissions from the car you want to purchase or
the higher the ANCAP rating, the lower the
interest rate. See the ‘how it works’ section on
the opposite page.
Check out our Buying a Car guide at
bankmecu.com.au/guides
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* As determined by the Federal Government’s Green Vehicle Guide.
www.greenvehicleguide.gov.au
how it works
If the Government has rated your car 7 or
more for its greenhouse gas contribution or
5 star or higher for the ANCAP safety rating,
then it receives a lower interest rate – that’s the
responsible thing to do.
Generally speaking, small cars with 4 cylinders
are rated 7 or higher.
If you want to see the rating of your ideal car,
please check www.greenvehicleguide.gov.au or
www.ancap.com.au
greenhouse or
type of car safety rating
greenhouse rating
New and used cars less than or
of 7+ or ANCAP
equal to 7 years old.
rating of 5 star
All other new and used cars and
motorbikes less than or equal to N/A
7 years old.
For information on the applicable interest rate
based on the type of car and greenhouse or
safety rating, go to bankmecu.com.au/carloan
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we offset your
car’s emissions
With our responsible car loan, bankmecu
commits to offset your annual greenhouse
gas emissions over the life of your loan at no
cost to you.
We base the amount offset on the average
kilometres motorists travel per year – about
15,000 km.
Approximately 4 tonnes of CO -e is generated
²
each year from this amount of driving.
Some of our customers will do more than this
and naturally some will do less. It averages out
over all goGreen® Car Loans.
This amount is then accounted for in
bankmecu’s Conservation Landbank which
currently comprises around 650 hectares of
native Australian bush located in Victoria’s West
Wimmera region.
You can read more about our Landbank
online or in bankmecu’s ‘makes a world of
difference’ brochure.
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bankmecu forward credits offsets for greenhouse gas emissions produced by your
car each year for the term of the loan. The level of offset is in accordance with advice
from Landcare CarbonSMART that the average car in Australia produces 4 t CO -e
per year. This forward credited offset is provided by bankmecu planting trees. ² As
these trees grow they will absorb the equivalent amount of t CO -e required to
offset your car emissions during the term of your loan. ²
bankmecu offers customers a complete solution
when buying a car:
✓ free car buying service
(Car Buying Made Easy)
✓ car news and reviews
from our website
✓ budgeting advice
✓ insurance
✓ loan calculators
✓ pre-approved
goGreen® Car Loan
✓ tips on driving to reduce
the cost and impact on
the environment
For more information, go to
bankmecu.com.au/carloan
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Trees will be planted into the bankmecu Conservation Landbank in
accordance with the land management plan developed and implemented
by Landcare Australia and overseen by Trust for Nature. Carbon sequestered
from these trees is monitored and reported by Landcare CarbonSMART.
emissions we
have offset
Since November 2003 bankmecu has been
offsetting greenhouse gas emissions from the
goGreen® Car Loans we finance.
Between 2003 and 2006 carbon was offset
via tree plantings managed by Greenfleet.
From 2007 carbon is offset via bankmecu’s
Conservation Landbank. Since 2008, bankmecu
has committed to offset 24,015 tonnes of
CO -e in the Conservation Landbank for cars
²
we have financed.
Our greenhouse gas emissions are outlined in
the table below.
greenhouse gas
offset period emissions [t (CO2-e)]
1 January 2008 – 30 June 2008 5,255*
1 July 2008 – 30 June 2009 9,248
1 July 2009 – 30 June 2010 9,512
TOTAL 24,015
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*This figure is calculated by Greenfleet methodology which uses 4.3 tonnes
of t CO -e per average car. bankmecu is now working with Landcare
²
CarbonSMART, who estimate 4 tonnes of t CO -e per average car.
²
Source: Figures taken from the mecu sustainability report 2009/10.
how much can
you afford?
Before you go looking for a car find out how
much you can afford to spend and what your
repayments will be. Use our website calculators
to work out your borrowing capacity, loan
repayments and much more.
doing your sums
Remember that there are also other expenses
to be considered when purchasing a car such
as on-road costs, insurance, stamp duty and
registration. Putting some money towards
your car purchase will help cover these extra
expenses and will also improve your chances
of having your car loan approved.
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finding the best
car for you
The next step in finding a car is to determine
which is the best one for you. bankmecu has
partnered with Car Buying Made Easy who offer
a free car buying service to assist you find the
right car at the right price. A Car Buying Made
Easy representative can assist you in
determining which type of car is right for you,
find the best examples available on the market,
and assist with pricing to ensure that you get a
fair deal. Best of all you won’t have to deal with
car salespeople if you choose not to.
Car Buying Made Easy can also arrange to bring
a car to your home or workplace (distance limits
apply) for a test drive. If you’re buying a used
car, they’ll even give it a going over to ensure
that it’s in the best possible condition.
If you would like to do your own legwork, our
website also provides you with many links to
car buying and car manufacturing websites.
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applications
bankmecu has made applying for your car loan
easy. You can apply over the phone, at your
local service centre or complete your
application online at bankmecu.com.au. Either
way, one of our consultants will have an answer
to you quickly.
insurance
Before you take your new car out on the road,
it’s important that it is insured. bankmecu offers
comprehensive cover through our insurance
partners who can meet all your insurance needs.
For drivers who do less than 10,000 kilometres
per year, we can offer goGreen® Car Insurance,
rewarding you with lower premiums for less
time on the road.
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pre-purchase
approval
bankmecu also offers pre-purchase approval so
you can be driving away in your new car sooner.
We’ll help you complete the paperwork upfront
then simply head off and buy your car knowing
exactly how much you have to spend.
trading your car in
If you already have a car and want to trade it in,
make sure you do your homework to determine
its value.
You may find that you will get a more reasonable
price for a trade-in if you purchase your new car
from the same dealer.
A representative from our free car buying service
Car Buying Made Easy, can also help you negotiate
the best possible price for your trade-in.
Another alternative is to sell the car privately,
which will require you to obtain a roadworthy
certificate as ownership cannot be transferred
without it.
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your car and the
environment
Listed below are a few tips to help you use your
car in a more environmentally friendly way.
• think about how much you use your car. Walk
to the local shop instead of driving. This will
help reduce greenhouse gas emissions and
improve air quality as well as your fitness!
• greenhouse gas emissions are directly related
to your car’s fuel consumption so driving a
fuel-efficient car and being responsible about
how you use it will reduce the impact
• reduce your speed – driving more slowly
reduces fuel consumption
• ensure your car is tuned and serviced
regularly. The worst polluters on our roads
tend to be old cars. If you do drive an older
car, help the environment by making sure it
is tuned regularly.
• don’t warm your engine up for long periods
before you drive away
• use your gears more efficiently – driving
gently in a high gear is an efficient way
of driving.
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your car and the
environment
• travel lightly and remove unnecessary items
from your car to reduce weight – those golf
clubs in the back or surfboard on the roof
create extra load and reduce aerodynamics
– this will improve your fuel consumption and
reduce fuel emissions.
• plan your trip before you set off as this will
not only save you from getting lost, but it will
also save you using unnecessary fuel
• car-pool wherever possible, as this will reduce
fuel usage and costs
• make sure that your tyres are inflated to the
correct pressure, as soft tyres cause higher
fuel consumption
• if you have two cars, use the most
environmentally efficient one where possible.
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Consider terms and conditions from bankmecu before deciding whether to apply.
our locations
If you would like to contact bankmecu to take
advantage of our car loan products here’s how:
phone
132 888
website
bankmecu.com.au
service centres
bankmecu.com.au/contact
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Terms, conditions, fees and charges may apply and are available on
application or request. Loans subject to bankmecu’s normal eligibility
criteria and approval.
For more information
about bankmecu
call 132 888, visit
bankmecu.com.au
or drop into your local
service centre. MKT 1009 0911 • MECU 32755
mecu Limited ABN 21 087 651 607
AFSL/Australian Credit Licence 238431
trading as bankmecu
222 High Street, Kew, Victoria 3101
Facsimile 03 9853 9294
Email mail@bankmecu.com.au